RBI's decision progressive, timely: Nadda

Describing RBI's decisions, including lowering the repo rate, as progressive and timely, BJP president J P Nadda on Friday said the announcements will help the middle class and strengthen economy. "Our Government is taking all necessary actions to help the citizens in this difficult time. Yesterday, Gov announced relief package. Today, in another important step RBI has taken many important decisions to give support and stability to Indian economy," he tweeted.

Noting that the central bank has slashed repo rate, reverse repo rate and cash reverse ratio to strengthen economy, he said it has also helped the middle class by giving moratorium of three months and also waived interest on EMIs. "I welcome these progressive and timely measures," the BJP president added.